Our Authorization follows these steps. Generally, this entire process takes place within a matter of seconds:Your customer presents his or her credit card information to you in order to make a purchase. This can happen in person, over the phone or your customer enter their information into your E-commerce site.
Payment Processing, Part I: Authorization
It is very important to understand authorization, because without it, you will not be able to accept your customer’s credit card payment (and that basically means lost sales.)
Authorization is the process of confirming whether your customer’s credit card has sufficient funds to purchase goods or services from you, and also confirms whether the card is valid. You can obtain authorizations through a credit card machine, ecommerce web site or over the phone.
I. Next, you transmit this information to PayVerifi
II. PayVerifi forwards your request to the card payment brand such as Visa® or MasterCard®.
III. From there, the payment brand sends your request to the card issuer (the card issuer is the bank that issued the card to the customer).
IV. The issuer will approve or decline the transaction, and this response is sent to the payment brand.
V. The payment brand sends the response to PayVerifi.
VI. Chase forwards the response to you (either via your point-of-sale device, ecommerce web site or we can provide it to you verbally over the phone), so you can complete the transaction.
VII. The card will either be approved and you will receive an authorization number, or it will be declined or referred. See below for an explanation of approvals, declines and referrals.